Summerset retirement village at Avonhead, Christchurch. Photo: Google Maps
Retirement village operator Summerset has reported 210 sales for the quarter ending March, despite tough market conditions.
Chief executive Scott Scoullar said they were made up of 115 new sales and 95 resales.
"While new sales are lower than the first quarter of 2022, we only delivered 57 new homes in the first quarter of 2023," he said.
"We continue to be on track for delivering 625 to 675 new homes in 2023."
He said more than 75 percent of the group's new homes would be delivered in the second half of the year, including three new main buildings in Napier, New Plymouth and Papamoa.
Scoullar said the 95 resales in the first quarter was lower than expected and was due to the timing around residents settling and moving in.
